Retail Foreign Exchange Dealer (RFED)

An RFED is an individual or organization which acts, or offers to act, as a counterparty to an off-exchange foreign currency transaction with a person who is not an eligible contract participant and the transaction is either:

a futures contract, an option on a futures contract or an option contract (except options traded on a securities exchange); or

offered or entered into, on a leveraged or margined basis, or financed by the offeror, counterparty or person acting in concert with the offeror or counterparty on a similar basis.

Registration is required unless the individual or organization is exempt from registration as an RFED pursuant to Sections 2(c)(2)(B) or 2(c)(2)(C) of the Commodity Exchange Act.

All RFEDs must be Members of NFA in order to conduct business with the public. Additionally, an RFED is required to have at least one principal that is also an approved Forex Associated Person.

*An application fee is not required if the individual is currently registered with the CFTC in any capacity or is listed as a principal of a current CFTC registrant. In addition, only one application fee is required if the individual is filing an application as both an Associated Person and Principal.

Click here if you do not already have access to the Online Registration System.

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Featured Information

NFA publishes several guides to help RFEDs meet their regulatory requirements. Visit NFA's publication library for a complete list.

Special Messages

NFA's Information Center is available Monday through Friday from 8:00 a.m. to 5:00 p.m. CST to answer your registration and ORS questions. Call (312) 781-1410 or toll-free at (800) 621-3570. You may also email inquiries to information@nfa.futures.org.